The Directorate General of GST Intelligence (DGGI) has decided to cancel tax demands amounting to approximately ₹3,000 crore against 18 foreign shipping companies operating in the country. These tax demands were related to the fiscal year 2017-18. If this decision is confirmed, it will provide significant relief to several major foreign shipping firms. The cancellation of these tax demands could alleviate financial pressures on these companies and potentially boost their operations in India. This move reflects a shift in regulatory stance, which may impact the broader shipping and logistics sector. To understand the full implications of this decision and how it will affect the industry, watch the video till the end.
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